The PannerNode is a part of the Web Audio API, which allows developers to create and manipulate audio in web applications. It is specifically designed to simulate the spatial positioning of sound in a three-dimensional space, enabling users to experience audio as if it were coming from different directions. This is particularly useful for applications like games and virtual reality, where sound placement enhances immersion. By adjusting properties such as position, velocity, and orientation, the PannerNode can create a realistic audio environment. It works in conjunction with other audio nodes, allowing for complex soundscapes that respond to user interactions and movements, making audio more engaging and lifelike.